In a recent transaction, Gunnar Gode, the Vice President and Chief Accounting Officer of NiSource Inc. (NYSE:NI), sold 950 shares of the company's common stock. The shares were sold at a price of $26.456, amounting to a total value of over $25,133.
Gode's transaction, which took place on March 15, 2024, was disclosed in a filing with the Securities and Exchange Commission. Following the sale, Gode's direct holdings in NiSource Inc. decreased to 28,526 shares of common stock.
NiSource Inc., a company that operates within the Electric & Other Services Combined industry, is headquartered in Merrillville, Indiana. The company is incorporated in Delaware and has been previously known as NISource Inc/DE and New NISource Inc.
Investors often monitor insider transactions as they provide insights into executives' confidence in the company's performance and outlook. The sale by a high-ranking executive such as the VP & Chief Accounting Officer may attract particular attention from the market.
The transaction was signed off by Kimberly S. Cuccia, Attorney-in-Fact, on March 19, 2024, as indicated in the SEC filing.
InvestingPro Insights
As investors scrutinize the insider sale by Gunnar Gode at NiSource Inc. (NYSE:NI), it's beneficial to consider the company's financial health and market performance for a broader context. NiSource Inc. has a current market capitalization of $12.04 billion, and its stock has demonstrated stability, generally trading with low price volatility, which is an important consideration for risk-averse investors. This trait aligns with one of the InvestingPro Tips, noting that the company's stock tends to have less price fluctuation compared to the broader market.
From a valuation standpoint, NiSource Inc. has a Price to Earnings (P/E) ratio of 16.88, with an adjusted P/E ratio for the last twelve months as of Q4 2023 standing slightly higher at 18.1. This may suggest that the stock is being valued more richly based on recent earnings. Additionally, the company's dividend yield as of the latest data is 3.98%, and it has a history of maintaining dividend payments for 38 consecutive years, which could be attractive to income-focused investors. This consistent dividend payment history is another highlight from the InvestingPro Tips, emphasizing the company's commitment to returning value to shareholders.
Moreover, analysts have revised their earnings expectations upwards for the upcoming period, indicating potential optimism about the company's financial prospects. This is particularly relevant given the recent insider transaction, as it provides a counterbalance to the potential negative sentiment that insider sales can sometimes convey.
For those interested in delving deeper into NiSource Inc.'s financials and stock performance, there are additional InvestingPro Tips available at https://www.investing.com/pro/NI. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert analysis to inform your investment decisions.
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